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have the worrisome headlines over israel. also out of washington, d.c., a little bit of positivity. what have traders got to do with all of this, are they short, neutral? let's ask three superstar traders at the cme group and the nymex. notice i did not stay long because i figured knowing you you would probably not be long but what are you doing going to this weekend? >> a lot of people after the leaders of both parties were very optimist we talking about possibility of a deal, people covered in a short they might have headway int had going intod on the off chance that they come up with something between now and monday they don't want to be short the market because i think a deal will get a rally on a deal. liz: next week is thanksgiving. they try to manage to get something done before thanksgiving? no way, right? >> i don't think so, they will not get anything done right away. more back-and-forth, and we know obama has the leverage and he knows it, but the fact is we need to stay normal valuations. s&p 500 trading a multiple of 12.5%. it is really on the cheap side of history afte
's sharp jump. it's a manifestation of tension between israel and hamas and the rocket battles over the gaza strip intensifies. the uncertainty no doubt stirring supply concerns. we do have oil moving precipitously higher. as important as it is, the oil story takes a backseat with what we're seeing with the rally in equities. let's take it to the floor show, traders at the new york stock exchange cme group and the nymex. ben willis, i like this rally because it is a little bit more broad than what we have seen in the past plus a significant number here of 173 points -- by the way the high of the session up 187. is this real? does this have legs for tomorrow? >> i think it is real.% and for those viewers who are watching us on friday, when i was chatting with nicole petallides, i said the time to buy is when a market is being corrected, and if you have to take a look back sat a chart going back over -- back at a chart going back over a month, you saw this market in a pullback phase. i think that was somewhat of a capitulation to the down side using the election as an excuse, if you w
not get any help. melissa: we had the word israel killed military leader. there was video from the air, so looking at oil if it higher. are we not? >> it was kind of strange because earlier in the day, the market did not move. and all of a sudden we rallied based on that move. i heard something else about the pipeline, we were up on that news. going forward, kind of fold your hands and say wait until the end of the year to get an idea of where it would go. i think the high today was 87.06 or thereabouts. i think the market is going to kind of find its way around $85. liz: oil down 12, 13% year to date, but equally as interested in today and the news out of the federal reserve minutes that may see cuti q. east four. >> do not have that much reaction in equities, but certainly the bond has not been sharing the risk mentality. up pretty much all day. basically they now say numerous governors are thinking there should be something to continue the twist, so realistically that could be an issue. what we are seeing is the bond not very risky. the vix is not going up, so realistically people are n
and israel. we don't do something about this before december, that is when you will start toosee consumers start to question leadership in washington. i don't think that is the case. i think our leadership in washington is focused -- we know who's going to be running the country and who is going to be running the house. now that that is behind us everyone can focus on reaching across the aisle and compromise and have to make progress on this fiscal cliff. i think that is important for business right now. the consumer has not focused on this but they will if we don't address it. i am confident we are going to address it in the next few weeks. cheryl: you are director of the new york fed, national retail federation, and macy's, perfect question for you. if there's one thing the administration can do for business in 2013 what would it be? >> there are so many things. it is your point. it is the big stuff. there are a lot of little things we are focused on and trying to increase tourism and make it easier for tourists to get visas particularly in china because we want them to spend their money
of interest has been happening. israel and hamas came to some kind of a truce for now, we will see it that way. sell the rumor, but on the news. anyway, lots of news as we move into your turkey day, let's get to our floor show. traders standing by on the new york stock exchange, cme group and the nymex. so good to see you at the new york stock exchange. days like today moving into the holiday, half-day on friday, volume seemed to pull back but there is a lot of great news out today, what are you watching? >> the market up 45 holding its gains. we're all waiting for more tangible news, lots more on the horizon. the cease-fire right now, keeping that in perspective. the fiscal cliff, but we have december to look forward to. black friday, cyber monday, these are things that might move the market up in another direction. we will see what happens after we get back to work. cheryl: so many questions i am sure it is so hard to trade because we don't know what is going on. let's go over to the cme. really it is still about europe. we still have problems with greece, still a lot of rhetoric coming out,
higher. >> it could still spike exactly. liz: despite the fact that neither gaza nor israel produces oil in any major form; right? >> news driven market. doesn't really matter. it's all perception; right? i mean that's what drives markets more than anything else. it is emotion and perception. especially a market like oil. so, yeah, if they have an excuse to move the market, we will take it. liz: teddy weisberg, what emotions are you feeling today on the floor? we started off pretty well. we got good numbers for housing starts and then bernanke enters the picture. >> well, liz, i think they are trying -- you know, we had two decent days certainly yesterday. so perhaps they are due for a little rest here. but i think the bigger picture is that they're still in trouble. there's just simply too many unknowns out there. i mean, you know, unless you have a crystal ball and you are clairvoyant, i mean it's got to be really tough to dig in here and do anything positive with the market until some of these unknowns go away, flo mat -- no matter what the outcome. i don't think it necessarily has to
Search Results 0 to 5 of about 6

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